Relative Oil Prices and Differential Oil Profits
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Date
2021
Authors
Bichler, Shimshon
Nitzan, Jonathan
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Abstract
If you thought that oil profits are about producing oil, think again. The enclosed chart, updated from our 2015 Real-World Economics Review paper, ‘Still About Oil?’, shows that the main determinant of oil profit — and specifically of differential oil profit — is not output, but prices.
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inflation oil profit redistribution
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Citation
Relative Oil Prices and Differential Oil Profits.
Bichler, Shimshon and Nitzan, Jonathan. (2021). Real-World Economics Review Blog. 30 December. (Article - Magazine; English).